Auto major Tata Motors is planning a large-scale overhaul of its sales network across the country over the next one year as it prepares to bring in new products, including premium SUV Harrier, a top company official Tuesday said.

The company, which plans to have all its future products on just two platforms -- Omega and Alpha, currently has around 790 dealerships across the country.

Shares of Indian automaker Tata Motors Ltd’s fell on Friday after its British unit Jaguar Land Rover said it is going to cut 500 jobs temporarily at its plant in central England.

Shares fell as much as 3.9 per cent to 170.35 rupees, their lowest level since Oct 29, in early trading session. More than 3.9 million shares changed hands by 0411 GMT, compared to the 30-day average of 15.8 million shares.

Shares of Tata Motors were down 5% at Rs 185 on the BSE after the company’s British arm Jaguar Land Rover (JLR) total retail sales fell 4.6% year-on-year (Y-o-Y) at 44,282 vehicles in October.

JLR’s sales in China decreased by 49% Y-o-Y as market conditions remain challenging amid tariff changes and continued trade tensions with the US, which are impacting consumer confidence and automotive purchases.

S&P has placed homegrown auto major Tata Motors’ long-term credit rating on ‘CreditWatch’ with negative implications, reflecting the risk that credit metrics could deteriorate.

The move to place ‘BB’ long-term issuer credit rating on Tata Motors on CreditWatch with negative implication follows interim results which were weaker than expected, dragged down by Jaguar Land Rover, S&P said in a statement.

Global Rating agency Standard and Poor's ( S&P) has placed its 'BB' long-term issuer credit rating on Tata Motors Ltd on CreditWatch with negative implication.

The CreditWatch listing follows Tata Motors' announcement of half-yearly results that are below our expectation. The interim results were weaker than expected, dragged down by Jaguar Land Rover, S&P said.

Tata Motors on Wednesday reported a consolidated loss of Rs 1,009.5 crore for the three months ended September, primarily due to the loss emanating from the weak JLR performance. In Q1FY19, the company had reported a loss of Rs 1,862.6 crore.

Consolidated revenue rose 3% y-o-y to `72, 112 crore in the September quarter. Revenues from the sales of commercial vehicles were `15,056.9 crore, up 31% y-o-y.

JT Special Vehicles (JTSV), a 50:50 joint venture between Tata Motors and Coimbatore-based Jayem Automotives, on Friday launched JTP range of performance vehicles – the Tiago JTP and the Tigor JTP. Jayem Automotives is an independent automotive R & D company involved in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes.

Tata Sons has increased its stake in Tata Motors at a time when its market capitalisation is eroding and valuations dipping amid uncertainties facing Jaguar Land Rover (JLR), its UK subsidiary.

At the end of the quarter ended September, the Tata Group holding company increased its stake in the flagship firm to 34.2 per cent from 33.3 per cent in June, according to the latest shareholding data shared by the company.

New Delhi: Tata Motors Ltd has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions, said two people aware of the development. Named Mobility Innovations Hub, the new department is headed by Pankaj Jhunja, formerly with Tata Technologies, said the people cited above, who did not want to be named.

Mumbai: Tata Motors Ltd is working on plans to revamp its entire dealership network as it seeks to bolster attempts to stage a turnaround in its passenger vehicle business in India, said a senior company executive.

The nationwide revamp will commence next year because the Mumbai-based auto maker feels its current showrooms are not equipped enough to handle its latest range of cars and sport-utility vehicles (SUVs) including those set to be launched in the future.

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